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tv   Business - News  Deutsche Welle  December 21, 2017 6:02am-6:16am CET

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the motion is adopted without objection the motion to reconsider is laid upon the table. and that the u.s. house of representatives has given their final approval to a sweeping overhaul of the u.s. tax code. over and out for the use top court the u.s. stock firms business model. and deadlines and dales cycling between the u.k. and e.u. over a timeline for britain's transition you're. welcome to news and funny for char here in poland u.s. president don trump celebrates the biggest tax reform in three decades it was approved today by congress critics say it will only help the rich to get even richer but trump had this to say we are going to bring at least four trillion
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dollars back into this country money that was frozen overseas and parts in the world and some of them don't even like us and they had the money well they're not going to have the money along and so it's it's really. i guess it's very simple when you think you haven't heard this expression but we are making america great again you haven't heard. a very cheerful donald trump there you've just heard him celebrating his tax reform but is this really a reason to cheer let's cross over to court on wall street how do you really tell me what would change for the individual american just how much more remains in their pocket. it pretty much depends on how wealthy you are and in what area you work also where you live for example in
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some states and cities where you have. local and state taxes won't be as easily deducted from the federal tax as in the past meaning it will be a disadvantage for people living in cities like new york or in stig's like new jersey for example and then also wealthier americans will profit more than people who do not have that much income so it's really tough to put a figure a dollar but also bottom line is for corporations the tax cuts are permanent for individual tax cuts will will not be limited so in the future americans might even pay higher taxes just mentioned corporations they are the ones who are going to benefit largely from this what are they going to do that all that x. straw cash. that is the very big question if history is
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a guide we've seen the quite often that corporations took bills takes gifts to repay debt to increase dividends to buy big shares and then eventually also invest more money and heaven that said we did get you was from the telecommunication giant eighty and t. is saying that they plan to increase capital expenditures by about one billion dollars and they also want to give bonuses to their goods two hundred thousand employees in the amount of about one thousand dollars you see any risks but a financial markets considering the fact that this will result in huge state deficits. debt is certainly a problem especially for the american society and for the social systems in general but also what actually might happen is that we could see zero overheating
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of the u.s. economy we will see how much. will happen also when it comes to infrastructure investments next year but theoretically the dollar could move higher we could see an overheating inflation could become a topic and that means that the federal reserve might have to act a bit more aggressive as we've seen it right now and that certainly could put a certain risk into financial markets overall with a new york thank you so much. and staying on the topic the us state of kansas attempted a very similar experiment to donald trump's tax reform it was in two thousand and twelve and governor sam brownback introduced the pink tax cuts for individuals what are known as pass through businesses but the plan lead to a sharp drop in revenue forcing massive spending cuts. the midwestern state of kansas was hit hard during the financial crisis after years of sluggish growth governor sam brownback was hoping to kick start the economy with drastic tax cuts
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his administration reduced the income tax and then got rid of it. the state eliminated taxes for farmers the self-employed as well as small and medium sized businesses gary mason the owner of an environmental consulting and services firm gladly accepted the massive tax cuts. probably got about twenty thousand dollars with a quick minute side of it you know with the state of kansas tax credit or lower taxes for small businesses it allowed us an opportunity to buy a quick i liked it but the dream of an economic boom never materialized the watchdog job center is not as busy as it was a few years ago but that's not due to the tax reform. there are no there wasn't anything that drastic change the economy is recovering so we know that that's part of it is just the last recovery from the recession instead of a strong recovery kansas saw an impressive growth and massive budget deficits as
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its tax base disappeared funding for this public school in kansas city dropped by fifteen percent much to the chagrin of principal david smith the tax cuts basically spent all the money that the state had and they're out of money so what they're arguing is that schools don't need more money i think these things show you that we do and we would be able to use that money to do more for kids could kansas be a blueprint for the entire country. if donald trump's optimistic plans don't succeed the u.s. could see a spiraling deficit and stagnation instead of many new jobs. different story it has hit its biggest roadblock because the european court a top court ruling is that it's not just the digital app connecting drivers to passengers but it also constitutes a transportation company and me to follow the rules what that means here is more a few clicks with an app is enough to find a quick ride at
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a reasonable price that's the hallmark of ride handling giant goober the company's drivers own their cars and riders can choose their service provider but goober will have to give up this business model in europe if authorities get their way. europe's top court has ruled that guber should be regulated as a transportation company that means the ride handling service will be treated like a traditional taxi company. professional taxi drivers across europe say the ruling was long overdue to grass been a thorn in their side because it has not had to comply with taxi regulations that has led to repeated protests throughout europe. the ruling could put an end to what the taxi drivers believe is unfair competition. that cannot be the case that the industry the professional in the city has to abide by the rules in days another part which is often exactly the same service the different lighter or no
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rules at all but representatives of the computer and communications sectors say the ruling is a step in the wrong direction they fear it could weigh heavily on cross border innovation. right now after this judgment what might happen is that we will have more legal uncertainty. on that innovators might face more legal uncertainty with respect to their business model as transportation services the ruling means super and many other private firms are likely to face higher costs. and there is talk today about a brac delay and that are due to a detailed trade deal that take a lot longer than expected but brussels has signaled that the u.k.'s transition period must end by december twenty twenty the time tables tighten critics are warning of a bracket bottleneck on the border between the e.u. and u.k.
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they say if a deal is not done all the added paperwork for truck drivers could lead to daily traffic jams twenty kilometers strong these obvious biggest mass reports from dover everything runs like clockwork and over this many as ten thousand trucks pass through the port every day there are a few formalities as most of the traffic involves the european union that could all change after bricks it john surely has been a holy here for twenty years his office is right next to the port he specializes in shipments to and from eastern europe or about next week or moldova. we could do it first though for sure we don't have a customs office we don't want the facilities and i would open a parking space for five thousand trucks can we get out of here for you to you five thousand. this is the economy is this the economic suicide.
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john's big worry is that if customs documents are needed again waiting times could massively increase this truck and knows his boss in that case would simply avoid doing business with the u.k. . customs paperwork for nonnie countries is processed in a small hotel at the moment that makes up a small portion of the overall traffic less than one percent about five hundred trucks a day customs broker alfie matthews processes the documents by hand an elaborate computer system would be needed to get through more we could have a deal with europe that all european trucks don't need examinations so they don't have to stay here they could drive straight through paperwork could be done electronically there wouldn't be any queues but as things stand there's neither
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a sophisticated computer system nor a deal with the e.u. britain urgently needs a solution there's nowhere to park any more trucks. and that's your business wrap thank you so much for joining us thanks for watching.
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my first boss was a sewing machine. where i come from women are balanced by this notion for. something as simple as learning how to ride a bicycle isn't. since i was a little girl i wanted to have both by cycle of my home and it took me as the months but. finally they gave up and mentioned by me and i say this but returns with the sewing machine sewing i suppose was more apt procreates for goes than writing about as knowledge i want to meet those women back home could bones by their duties and social goals and inform them of old dead basic rights my name is the about of the who and i war adds see them.
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